Bank Failure
First City Bank of Florida
BankRegReports is independent of First City Bank of Florida and never asks for online banking logins or passwords.
Closed October 16, 2020 · Fort Walton Beach, FL · FDIC Cert #16748.
- Closing date
- October 16, 2020
- Headquarters
- Fort Walton Beach, FL
- FDIC Certificate
- 16748
- Total assets at closing
- $136.6M
- Total deposits at closing
- $133.9M
- Estimated loss to the insurance fund
- $7.2M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- United Fidelity Bank, FSB
Context
On October 16, 2020, regulators closed First City Bank of Florida, headquartered in Fort Walton Beach, FL. At closing, the institution held approximately $136.6M in assets and $133.9M in deposits. The FDIC record names United Fidelity Bank, FSB as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $7.2M.
By assets at closing this is the 1005th largest of the 3,526 bank failures in the FDIC record, and the 2nd of 4 in 2020. It falls in the period the record labels Post-Dodd-Frank Calm (2014-2022), a period with 47 failures peaking at 18 in 2014.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did First City Bank of Florida fail?
First City Bank of Florida was closed by regulators on October 16, 2020.
Who acquired First City Bank of Florida?
The FDIC record names United Fidelity Bank, FSB as the acquiring institution in the resolution of First City Bank of Florida.
How big was First City Bank of Florida when it failed?
First City Bank of Florida had approximately $136.6M in total assets and $133.9M in deposits at the time of failure.
Other failures in 2020
| Date | Bank | Assets |
|---|---|---|
| Oct 23, 2020 | Almena State Bank | $65.7M |
| Apr 3, 2020 | The First State Bank | $151.8M |
| Feb 14, 2020 | Ericson State Bank | $100.9M |
Explore: all failures · FL bank events · 2020 events · events hub